Sunday, June 24, 2007

investment mistake

Its been an interesting and stressful week. An investment scheme of my friend finally went bust. Ive always warned my friends of the danger of these kinds of investment. The investment will almost double your money in one month. I really dont know if it was a ponzi scheme, hyip or a scam because for a long time it was really paying well. The good thing for me was that i really believed that “it was too good to be true” so every time that interest was being paid on the principal i kept on reducing the principal before the investment went bust. At least i can live with my decision for i have almost recovered my investment. :) this investment is a lesson for me and taught me a lot about the psychology in investing the excitement and the ensuing panic when everything falls apart. Every time interest is due i kept on getting it while some of my friends kept on adding to their investment and i have the impression that some of them have put more than half of their savings in it for they believe that it is a “once in a lifetime opportunity.” so what will they do now because i believe that there is just a very slim chance that they can recover the whole of their investment. It also showed me that the generation nowadays dont value hard work. They would rather have it easy. But lets not deny it who wouldnt want to earn easy money but not to the point of putting almost all of your money in it. This is something that i would also like to do more research on the saying “easy come easy go”. Or what are the percentages that one can save from hard earned money and easy money. I noticed that the generation of my parents and grandparents give much more value to hard work maybe this is because they experienced hardships during the war? I really dont have the correct explanation for that phenomenon. Im lucky for my family has instilled in me the value of hard work and i am not afraid to get my hands dirty. :) and everybody shouldnt be afraid to do hard work for i remember there was one taipan that said “there is no shortcut to success and hard work is the key to success.” and i remember i think it was lucio tan who said this during an interview “i became successful because when i knew that my competitors were working 8hours a day i put in 10hours a day and when i found out that they were working 10hours a day i put in 12hours a day.” now you know why he is one of the richest people in the country. :) i remember my dad also in a meeting before when he got upset with a manager and up to now i can still clearly remember his words “i dont care how smart you are, but i come from the old school and the only thing that i know is hard work.” :) here is another story of another taipan told to me by a friend when henry sy saw the movie “ghost” starring patrick swayze and demi moore he made it a point to let everybody in his family watch the movie to watch a particular scene. It was the scene where another ghost was teaching patrick swayze how to move objects, the latter was being told by the other ghost to concetrate and focus until he finally moved the object. The moral of the story is focus. For hardwork without focus is nothing. Good luck on all your trades and God bless. :)

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